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Smart & Final Extra! 8200 El Camino Real 57,513 SF 100% Leased Retail Building Atascadero, CA 93422 $18,750,000 ($326.01/SF) 6.70% Cap Rate
INVESTMENT HIGHLIGHTS
- Single Tenant Absolute NNN Grocer - The entire collateral is wholly leased to Smart & Final, who subleases 18,660 square feet to Planet Fitness.
- Absolute NNN Lease - Single tenant asset (subject to sublease with Planet Fitness) on an absolute NNN lease, with no landlord responsibilities.
- Prominent Freeway Frontage and Visibility - Approx.800 feet of linear frontage and prominent monument signage along US Route 101.
- Rare Embedded Annual Rent Increases - Smart & Final’s lease features annual 2% rent increases; providing consistent NOI growth for an investor.
- Seasoned Tenant - Smart & Final has been in occupancy since 2016 and executed a new 16-year lease in 2019.
- Affluent Household Demographics - Average household incomes of approximately $110,000 within a three-mile radius.
EXECUTIVE SUMMARY
Smart & Final/Planet Fitness is a 57,513 square foot grocery-anchored investment opportunity located in the affluent California Central Coast community of Atascadero. The entirety of the subject property is on a long-term absolute NNN lease with Smart & Final, with a base lease term expiration of February 2035. Smart & Final occupies approximately 38,853 square feet of GLA, with Planet Fitness occupying the remaining 18,660 square feet on a sublease.
The subject property is centrally positioned in Atascadero along US Route 101, and benefits from approximately 800 feet of linear frontage and prominent monument signage. US Route 101 receives strong traffic counts of approximately 57,000 vehicles per day (Curbaril Ave. interchange).
The subject property is centrally positioned in Atascadero along US Route 101, and benefits from approximately 800 feet of linear frontage and prominent monument signage. US Route 101 receives strong traffic counts of approximately 57,000 vehicles per day (Curbaril Ave. interchange).
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Supermarket
Building Size
57,513 SF
Building Class
B
Year Built
2000
Price
$18,750,000
Price Per SF
$326.01
Cap Rate
6.70%
NOI
$1,256,250
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.19
Lot Size
6.90 AC
Zoning
CR
Frontage
109’ on El Camino Real
AMENITIES
- Dedicated Turn Lane
- Freeway Visibility
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $11,103,874 | |
| Land Assessment | $8,366,388 | Total Assessment | $19,470,262 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$8,366,388
Improvements Assessment
$11,103,874
Total Assessment
$19,470,262
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Smart & Final Extra! | 8200 El Camino Real
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